LIC ends year with $30.6m profit
Herd improvement company LIC has ended the 2024-25 financial year in a strong position - debt-free and almost quadrupling its net profit.
Sowman runs Uruwhenua Farms, a 400ha family owned dairy farm, and is a member of the Fonterra Sustainability Advisory Panel, a group providing independent advice to the Fonterra senior management team and board.
Sowman says it's a privilege to be elected to the LIC board.
"Dairy farmers are enjoying record milk prices and have a truly exciting opportunity to provide grass fed nutrition that the world wants."
"But it comes with new responsibilities and challenges, and I look forward to contributing to LIC as it supports farmers with science, innovation and services that meet these head on."
His election means LIC has three directors each for North Island and South Island, as voted by farmer shareholders in 2020.
